Intera prepares €330m listing of Kamux

Kamux's flotation will offer a partial exit for the Intera Fund II, which acquired the company though a buyout in December 2011. Founded in Hämeenlinna in 2003, Kamux is a car retailer specialising in used vehicles and operating showrooms in Finland, Sweden and Germany.

Trading is expected to begin on 7 June, with the IPO price range set at 680-820 cents per share, the company stated in an offering document. The offering will consist of 10,140,288 existing shares and 2,696,297 newly issued stock, with as much as 36.4% of the company to be put in free float, depending on the greenshoe option. The overallotment option can increase the shares on offer by around 2 million, taking the free float from 31.7% of the company to a maximum 36.4%.

At full over-subscription, the shares offered are expected to be worth between €100-121m. Kamux will receive around €20m of the proceeds raised in the IPO, which it intends to use to further global expansion and strengthen its business operations.

Two investors have agreed to provide a combined €30m cornerstone investment ahead of the IPO, with Swedbank Robur Fonder and Elo Mutual Pension Insurance each providing €15m. Swedbank Robur Fonder has cornerstoned three Nordic private-equity-backed listings over the past 12 months: IK Investment Partners' Stockholm listing of Attendo, Apax and Nordic Capital's Capio IPO, and Nordic Capital's Resurs flotation earlier this May.

Kamux generated revenues of €310m in 2015, with adjusted EBIT of €16m. It employs a full-time staff of 271.

SEB is acting as lead manager for the IPO, with OP Corporate Bank as co-manager. White & Case are providing legal advice to Kamux, while Roschier is doing the same for Intera.

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• Topics
• Exits
• Nordics
• Consumer
• Finland
• IPO
• Intera Equity Partners Oy
• SEB